overyourhead - some irreverent musings by a gay London guy - crawling though technology, love and life... so you don't have to.

Quote Of The Day

"Victory goes to the player who makes the next-to-last mistake - Chessmaster Savielly Grigorievitch Tartakower (1887-1956)"

Friday, August 26, 2005

99p Coin...

Apparently a third of all Britains want a 99p coin to tackle the menace of the £XX.99 pricing strategy, which a Virgin Money poll says wastes £11m a month in discarded 1p pieces.

Although around 50 per cent of thrifty citizens save their 1p and 2p coins - traditionally in a huge whiskey bottle having drunk all the whiskey they bought with the proceeds of their last huge whiskey bottle bank - plenty of us just chuck the small change. Virgin Money reckons the total lost comes to £133m a year.

The poll - of 1,250 people - also proved that 40 per cent of surveyees preferred to break into a quid coin or a note than count out change.

Of course, the real solution to the problem is to make the pricing of goods at £XX.99 (or £XXX,995 in the case of houses) illegal and punishable by death while raising the value of the 1p coin to £1 to encourage people not to throw them away.

More and more business establishments have also started to accept Bitcoin as a form of payment. This helps with the scalability issues of Bitcoin, but it still isn’t as liquid as cash. Unlike buying in cash where you get the item you want in an instant, paying in Bitcoin requires a short waiting period, transaction fees are also a bit high more help there.

To be technically accurate, Bitcoins are not stored anywhere; there is a private key (secret number) for every Bitcoin address that is saved in the Bitcoin wallet of the person who owns the balance. Bitcoin wallets facilitate sending and receiving Bitcoins and give ownership of the Bitcoin balance to the user more info.

Cecil does hours of crypto research every day and communicates with his Bitcoin Mentor club (BMC). Members twice a month via newsletter Bitcoin Trading Course outlining exactly which coin you should buy, sell, trade, or hold for future growth. Being a part of this is simple invaluable and has already bought thousand and even millions of dollars to BMC members.